The North East side were desperate for a win and created a string of chances but they couldn't get the goals they needed and go down a year after playing in the League One play-off final.
In a one-sided first half, Hartlepool did everything but score.
They threatened early when Joel Porter had two quick penalty appeals turned down.
The first looked a very good shout when he was sent flying sandwiched between two Vale defenders.
The visitors had their one and only chance of the first half after that but defender Jason Talbot's long-range shot was deflected wide for a corner.
Pool took up the attack again and Thomas Butler saw one shot from the edge of the area fly inches over the bar while a second bounced clear off the chest of goalkeeper Mark Goodlad.
He was in action again seconds before the break when he fumbled a header from home defender Michael Nelson against the bar and behind in first-half injury time.
Vale improved after the break and home keeper Dimi Konstantopoulos did well to push a chip from Sam Togwell over the bar.
Tony Dinning should have given Vale the lead but his close-range shot went straight into the arms of Konstantopoulos with the goal gaping.
The visitors did score on 77 minutes though when Michael Cummins sent his low shot from the edge of the area into the bottom corner.
But the home team's desperation saw them level the game with four minutes left.
Substitute James Brown scored from a tight angle after Goodlad failed to hold a shot from Butler.
That set up a hectic finish, but Hartlepool couldn't break through again as Vale held on for a satisfying end to their season.